trade or business

(A)The term “trade or business” shall not include— (i)the trade or business of performing services as an employee, (ii)any electing real property trade or business, (iii)any electing farming business, or (iv)the trade or business of the furnishing or sale of— (I)electrical energy, water, or sewage disposal services, (II)gas or steam through a local distribution system, or (III)transportation of gas or steam by pipeline,